Bain Capital, KKR in Running for MYOB

Bain Capital and Kohlberg Kravis Roberts & Co. are among the potential buyers for Australian software maker MYOB, Reuters reported. A sale of the company could fetch around $1 billion. MYOB is owned by Archer Capital and HarbourVest Partners, private equity investors that picked up the company in 2008 for roughly 450 million Australian dollars.

Slideshow: 10 Largest Pending Q2 LBOs

Buyouts recently wrapped its Q2 quarterly deal wrap-up, and the consensus, to put it bluntly, was ugly. Though our data was cut off at June 15, the results showed U.S.-based PE firms had closed 38 percent less control-stake deals in Q2 than in Q1, according to Thomson Reuters. This suggests many firms have spent much […]

CSN Stores Inks $165M in Financing

Online home goods retailer CSN Stores has raised $165 million in its first round of institutional financing from Battery Ventures, Spark Capital, HarbourVest Partners and Great Hill Partners. The nine-year-old company, which says it is profitable, will use the cash infusion to expand as it consolidates its catalog under the brand, the company said Tuesday. The company will also use the funds for potential acquisitions.

Spectrum Equity, HarbourVest Sell World-Check to Thomson Reuters–UPDATED

Thomson Reuters, which publishes peHUB, has acquired World-Check, a provider of corruption prevention information. Financial terms were not announced. Spectrum Equity Investors and HarbourVest Partners acquired World-Check in 2007. UPDATE: Spectrum and HarbourVest invested $86 million equity in 2007 for a combined two-thirds of World-Check, a person says. The sale to Thomson Reuters is valued at north of $500 million, the source says. Portico Capital Securities provided financial advice to World-Check.

Global Secondary Market Expected to Surpass $25B, as Asian Deals Take Off

Private equity funds spent the last few years investing unprecedented sums in Asia. Now, secondary funds are swooping in for their share. That’s the impression from Monday’s announcement that a consortium of secondary investors has acquired a portfolio of stakes in Asia-based private companies from Bank of America valued around $400 million. The existing BofA […]


In Bizarre Twist, LPs Praise Venture Asset Class, See Strong Future

A strange thing happened at the National Venture Capital Association conference on Thursday. Two limited partners speaking on the last panel of the day said they are very upbeat about the venture asset class. The positive attitude marked a sharp turnaround from years past, during which limited partners — although still maintaining allocations to the […]

HarbourVest Promotes 4 to MD, Bilden to Become Senior Advisor

HarbourVest Partners has promoted Jeff Keay, Karin Lagerlund, Sebastiaan van den Berg, and Scott Voss to managing director. HarbourVest said Monday it is also in the process of establishing a team in Bogota, Colombia and expanding the team in Asia. Also, Philip Bilden, an MD with HarbourVet Partners in Asia, is transitioning to a senior […]

Reuters: Buyout Funds to Shrink in Fundraising Wave

BERLIN, March 2 (Reuters) – Buyout firms piling back into fundraising markets this year face raising far less capital than for their previous funds as investors limit the amount they are ready to give private equity for deals. Many big name private equity firms reaching the end of their investment periods or running low on […]

Corning Buys VC-Backed MobileAccess

Corning Inc. will acquire MobileAccess Networks Inc., a provider of wireless network technology, from a consortium of investors including Viola Group, Pitango Venture Capital, Poalim Ventures, Eurofund L.P., DeA Capital S.p.A., HarbourVest Partners, Ziegler Meditech Equity Partners and CDB Web Tech. The deal is expected to close during the first quarter of this year.

Casella Waste Systems Sells Unit to Pegasus Capital

Publicly traded Casella Waste Systems has agreed to sell certain recycling assets to a new company formed by buyout shops Pegasus Capital Advisors and Intersection LLC in a deal worth $130.4 million. The acquisition is financed by Pegasus Capital Advisors, MissionPoint Capital Partners, HarbourVest Partners, and Ares Capital Corporation. Craig Cogut, founder and managing partner of Pegasus Capital, will serve as chairman of the new company.

Moritz’s Cleantech Play Launches A Global Warming Sensor Network

I might not ordinarily cover a new product announcement from a cleantech portfolio company. But this one struck me for a particular reason: Michael Moritz of Sequoia Capital is on the four-person board, along two members of the private equity firm HarbourVest Partners. What’s interesting is that the company – rebranded Earth Networks Inc. today […]

Rumor Quash: BlackRock Not In Talks for HarbourVest

Is BlackRock in talks to buy HarbourVest Partners, the Boston-based private equity fund-of-funds and secondary fund manager?

That’s the rumor rampaging through private equity circles, but peHUB has learned that it’s untrue. Maybe the speculation was started by someone close to BlackRock, in order to help the giant asset manager better negotiate the acquisition of some other firm (kind of like when similar rumors began about Merrill Lynch/Harbvourvest in 2004, shortly before Merrill also was said to be interested in Man Group).

HarbourVest’s Brooks Zug on Carried Interest, Volcker Rule and VC Revival

I don’t have any official responsibilities here at SuperReturn, but did agree to “anchor” a handful of video interviews that will be posted at the conference website (and probably on YouTube). Just completed one with Brooks Zug, senior managing director of HarbourVest Partners, who gave this morning’s keynote address. A few takeaways from the interview: […]

HarbourVest Raises Mid-Market Loan Fund

LONDON (Reuters) – Boston-based investment firm HabourVest Partners secured funding on Tuesday for a new investment company which will invest in European senior secured loans of private equity-backed mid-market firms. The fund, HarbourVest Senior Loans Europe, will invest in both primary and secondary loans issued by 20-30 companies with an enterprise value of up to […]

Lexington Partners Crosses $3 Billion Mark

Lexington Partners has closed on $3.108 billion in capital commitments toward its seventh fund, according to regulatory filings. The New York-based secondaries firm launched fundraising for Lexington Capital Partners VII LP in early 2008 with a $5 billion target.

As of last week, the firm had secured $2.378 billion in commitments from 91 US-based investors and $730.2 million in commitments from 48 overseas investors. Park Hill is serving as placement agent.

Harbourvest Cleantech FOF Preparing for Close

Boston-based HarbourVest Partners is preparing to hold a final close on its new cleantech fund. The firm has raised $139 million in commitments to date and is waiting to hear on one or two potential commitments before holding a final close, a source familiar with the situation said.

Harbourvest launched fundraising just over a year ago with a target of $150 million and hard cap of $250 million. peHUB first flagged the fund in March 2009. The management company, called HarbourVest Cleantech Associates, was formed in April 2008. Harbourvest declined to comment.

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